Looking to diversify beyond SCSAX? The mutual funds below have historically moved differently from SCSAX, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for SCSAX
2 mutual funds have low correlation with SCSAX (below 0.3), 0 of which are negatively correlated. The least correlated is Allspring Ultra Short-Term Income Fund (SADIX) (Ultrashort Bond) with a 1Y correlation of 0.18, roughly unchanged from 0.15 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Allspring Ultra Short-Term Income Fund | 0.18 | 0.14 | 0.15 | 99 | Ultrashort Bond | SCSAX vs SADIX | |
| Allspring Short-Term Bond Plus Fund | 0.29 | 0.19 | 0.16 | 84 | Short-Term Bond | SCSAX vs SSHIX | |
| Victory RS Investors Fund | 0.70 | 0.78 | 0.80 | 73 | Mid Cap Blend Equities | SCSAX vs RSINX | |
| Gabelli Value 25 Fund | 0.71 | 0.79 | 0.83 | 80 | Mid Cap Blend Equities | SCSAX vs GABVX | |
| 13D Activist Fund | 0.72 | 0.81 | 0.86 | 78 | Mid Cap Blend Equities | SCSAX vs DDDIX |
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